Georgia to fully pay off debt to IMF this year

Georgia will fully pay off the debt to the International Monetary Fund (IMF) in 2014, the head of the Georgian National Bank Giorgi Kadagidze said in the parliament on July 30 while delivering the report on the work of the National Bank in 2013.

"In terms of external debt servicing, Georgia entered its final phase," he said. "We paid the International Monetary Fund $ 380 million in 2013. This year we will pay for the last tranche of the loan. I can say that the National Bank of Georgia will not have debts to the IMF from 2014."

"This circumstance is "a very significant event" especially for those international groups and companies observing the macroeconomic situation of the Georgian economy.